Where the Trade Court's Tariff Decision Went Wrong
During a national crisis, an advocate of tariffs testified before Congress that 'reciprocal trade agreements' push foreign nations to stop erecting 'excessive economic barriers to trade.'
Who said this? President Trump? Sen. Reed Smoot or Rep. Willis Hawley? It was President Franklin D. Roosevelt's secretary of state, Cordell Hull, explaining in 1940 how reciprocal tariffs could reverse unfair trade practices targeting the U.S.
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